Dow Ends Up 107 on Upbeat Budget Comments

11/28/2012 4:41PM

Stocks reversed course to finish with broad-based gains, as investors seized on upbeat political remarks on the fiscal negotiations in Washington, and signs that the Federal Reserve could continue buying bonds next year. Barrons's Brendan Conway has details on The News Hub. Photo: Bloomberg.

This transcript has been automatically generated and may not be 100% accurate.

... the ... said lots of good old U S stocks jumped after a series of all the remarks from Washington leaders ... to raising deep mourning a loss this will have back and mall ... right here right now on the New Saab ... afternoon and welcome I'm Simon Constable ... did take us through the Ismail Khan's clones Brendan Conway has the right now thanks to bring in some time and I really appreciate the scores he cycled through the chops but we have the people among others that they bought ... deep losses in the morning with my kids and one and send around as the Nasdaq up aam it says that the similar trend and on the SNP ... why would anyone who isn't about us to ... believe what was coming out walk out one of the cynical earning but I mean you'd want someone coming from is that we prefer it ... yes things of fun before we've ... we've we've we've we've heard guess things are finally heard know things are not find in fact we heard them both today GM ... you know ... markets closed to new lows yesterday kind of ... as ... suddenly traders you know ... we've realized remit Washington's to leave Washington mean it still is ... we still have no idea what they're going to do about taxes ... what degree do about spending cuts ... today though ... we're in this triple digit ... trough and DowJones Industrial Average this morning calling ... on more the same words when ... John painter comes evidence is ... so so the APUs it we said yes he said I'm optimistic ... and traders take this as a cue ... I think when you really need to know is is that the market ... has no idea of a crisis they have no idea ... what to do but the stock ... and sell ... later in the day ... he had President Obama make a similar remark optimism and ... we are off also didn't offer a swelling it's about the latest in a manner often to the House Republicans to ... come up with the Democrats and that he would sign a bill on for him to extend ... out the the the Bush era tax regime ... everyone through to answer to ... the tune of fifty thousand on the ... right which sounds uncannily similar to what was already on the table ... I mean you really do have to question ... to you and to what extent the market ... the union you know I mean you shouldn't ... he be trading with the market on these things has a business idea for investors ... should be viewed as an opportunity ... to take the opposite side ... of what's happening on any one given day ... if you are inclined to do it ... because this back and forth trading ... I mean it feels alot like seven ten elected to TGT Michael money doing the could you buy one when the market goes up EVP be viewed on Friday a new peace talks and then when it goes down the next day job I can just go up down up down on the NYSE identified only as a short-term country learning that there's a company like there's a fun you like a finger on it went all in one hand and this is one you wanna get out of windows up ... because it seemed to people from what I've seen we seen across the board increases in some ways and don't need to start so you don't wanna name and you know at the Medinah often and then ... you know was the integrated going down in the next time with with everything it seems amenable to health ... what's so you know across the board by the army what one of things that has been nice about this year up until recently ... these is that what they produce a correlation of all these different types of stocks in assets has been spreading apart so this trial one is kind of rising more ... than the weaker ones will ... go the wrong way ... when you see when the market gets worried about these things thinking of price ... everything just goes and lost to ... them we also saw something else in a given that most of the flash crash ... but in the gold market on how the summary of ... of basically had to take twenty tonnes of gold into the market and it just ... one month to month through parts of our down time as ... to when a flash that it's it's called the statement but bright bright the beginning that is found in a matter of minutes and ... look what I consider one that's that that's over but I guess all of these markets suffer from Electronic Trading gum ... when you know you gold gold is Eunice I mean I mean ... that's an asset class that tracks a lot of emotion ... it's very hard to tell you that people see a giant read like that and they get worried it at least ... that's that's what that rather than market was is that people who knew it was this trying to create ... you've really got people worried ... the dollar was also have an effect this morning ... on the price of gold as well so when the dollar gets stronger value priced ago this time because that person don't you make of the basement thank you very much from the calm quiet all hands and knees and check out more of